596 



MONTHLY REVIEW OF LITERATURE AND ART. 



AN OUTLINE OF A PLAN FOR A NEW CIRCULATING MEDIUM. LONDON. 



RIDGWAY. 



THIS is a pamphlet in the shape of three letters, addressed to the Chancel- 

 lor of the Exchequer by an ingenious foreigner, who proposes a very novel 

 and extensive change in the monetary system of the world. Premising that 

 diamonds possess in a much higher degree than gold and silver the qualities 

 of rarity, beauty, and indestructibility, he proposes that the various classes 

 of these precious stones should be mounted in frames, and stamped according 

 to their value, as assayed by a board of jewellers. Thus, it is maintained, 

 that an immense increase of money may be obtained from the stock of dia- 

 monds, which now form a dormant portion of the capital of the nation ; and 

 for the higher transactions of commerce, the introduction of a medium con- 

 taining large value in a small compass, would probably supersede the use of 

 bullion and gold coin, the transmission of which is attended with a great 

 expense. Our principal objection to the scheme we take from the account of 

 a well informed writer in a recent number of this magazine, who informs us 

 that an opinion prevails amongst the geologists of Brazil, that diamonds 

 exist in the mountains of that country in such profusion, and will be dis- 

 covered in such quantities, as to render them valueless at a future day. It is 

 apparent, therefore, that should natural causes tend to the depreciation of 

 the value of diamonds, this insecurity would be a strong bar to their exten- 

 sive introduction. 



Assuredly there is no sound reason why so slavish an adherence to gold 

 and silver coin should be practised by mankind. The measure of value may 

 equally consist of any other portable and durable substance whatsoever, and in 

 the rapid decline of the produce of the gold mines of South America in recent 

 years, and the consequent deficiency of money and general stagnation of trade, 

 we think it probable that the introduction of a new material may have most 

 beneficial consequences upon the commerce of the world. At the Russian 

 mint considerable quantities of coin have recently been formed from platina, 

 the new metal, which has hitherto preserved an exact medium between the 

 value of gold and silver ; and from the great quantities of the substance 

 which are supposed to exist in the Ural Mountains, the government of Russia 

 is said to anticipate most beneficial consequences to the commerce of the 

 empire. Diamond money, in like manner we should suppose, would be most 

 advantageously introduced by the governments of Brazil or Portugal, coun- 

 tries which abound in diamonds, and of which the bulk of the national 

 wealth is usually supposed to exist. 



The pamphlet contains much curious information upon the varieties and 

 comparative value of precious stones ; and to all who are observers of the 

 modern revolutions in the science of political economy, we recommend a 

 consideration of this very original, and at a future day perhaps most valuable 

 project. 



EXCURSION TO ANTWERP DURING THE SIEGE. BY CAPTAIN THE 

 HONOURABLE C. S. W. LONDON. MURRAY. 



IN this little work the gallant and honourable Captain sets out by narrating 

 how "circumstances of private concern alone" delayed his departure till the 

 10th of December. At two o'clock of the llth, he "finds himself" in the 

 harbour of Calais, and strange to say, on approaching the town of Enghien, 

 the wind blowing fresh from Antwerp, his ears are first saluted by the sound 

 of cannon ; and then occurs to him the " exciting thought that he is soon to 

 be on the spot from whence the thunders come." We are next told, that 

 " the effect of cannon at a distance is truly magnificent." We have ourselves 

 smelt powder, and can practically affirm that cannon only produce magnifi- 



